Brian Woodhams' letter on redemption statements (see [2007] Gazette, 11 October, 15) prompts me to add a further touch of concern.


We acted on a remortgage in December, of a considerable sum but of a single property, where the sum paid was slightly short of that required to redeem against a written redemption statement. This was pointed out and, within days, the balance paid to the satisfaction of the mortgagee.



In January, the borrower defaulted on other loans with the same mortgagee. The mortgagee sought to rely upon the consolidation clause in the mortgage as an excuse to refuse the issue of a DS1, despite redemption having been accepted prior to any known failure of the borrower. No DS1 was issued until the other loans, with the same mortgagee, had been paid in full.



In the meantime, of course, we were being held responsible for our failure to register the new mortgage.



Malcolm Bell, Harold Bell & Co, Ewell, Surrey